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20121201
20121231
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Search Results 0 to 9 of about 10 (some duplicates have been removed)
CSPAN
Dec 27, 2012 1:00am EST
equivalent of in greece, a permanent bailout. the thing is, whereas markets are an easing institutions for -- are amazing institutions for allocating existing goods and services among consumers, they are chronically bad at creating a surplus between deficit -- at creating a balance between deficit and surplus regions. a geographic problem, and intertemporal. remember -- if that comes first, suddenly the money lender who later becomes a banker who later becomes wall street plays a hugely significant role in this process. the banker is the conduct of that -- conduit of that recycling mechanism. when they get an increase in proportion as the result of their mediation of that process. given that, a failure of the banker is the same thing as -- is not the same thing as the failure of a clothes maker. suddenly, there are two things that must have been. -- happen. 1 -- society will demand that banks are not allowed to go to the wall. then bankers are affectively given carte blanche, free money for themselves. and the whole mechanism breaks down in 2008. -- like in 2008. it is often said in th
CSPAN
Dec 25, 2012 8:00pm EST
wants to see us see what happened in europe and greece. it does not have to happen here. in conjunction with that, this has to be the best place in the world to do business. economic growth, if we grow our economy, it will help our debt and, of course, more opportunity for everyone. so i hope to work with everyone on this table -- everyone at this table on those issues. worse, always making sure -- of course, always making sure that america is safe. [applause] >> thank you. >> my number one priority echoes what kelly said. we need to come up with a deal that keep us from the automatic spending cuts that go into effect in january and deal with a senior tax system -- a saner tax system. we can follow a framework as recommended by the simpson- bowles commission that will allow us to protect benefits but will also make some of the tough choices that kelly was talking about. i think we have to put everything on the table for that kind of a deal. we have to look at revenues. we have to look of the domestic side of the budget. we of the look of the defense side. and we have to look
CSPAN
Dec 26, 2012 8:00pm EST
greece? >> no, that is a profoundly -- do you see as becoming like greece? >> that is a profoundly different situation. the congressional budget office says that if we stay on the course we are on, we will have a debt that is 230% of our gross domestic product of the the next 20 years. most experts say once you get a debt of more than 9% of gross domestic product, that inhibit future economic growth in a significant way. this is just about -- not just about numbers on page, it is really about opportunities for people. whether you will be able to send your kid to school, to college, whether it will be able to buy a car, my house, whether we will have economic opportunity for the people of the country. the best academic research that has been done shows that if a country's debt gets too large in relationship to the size of its economy, the economy does not grow as fast. opportunity is lost. jobs are lost. so there is a similarity with what is happening in europe and what could happen here if we don't get our house in order. >> you talked about a single- minded focus, yet you are leav
CSPAN
Dec 12, 2012 6:00am EST
. 25% unemployment in greece and spain. imagine what the minority unemployment would be if we had a 25% unemployment rate on average in the united states. we see pensions being cut without any notice hardly at all. social programs slashed. there is at least some probability that will happen to us. i will say it is a certainty eventually if we do not do something about the situation. i would think they would be much more sober in their demand. at this moment, i do not see it. >> i would say a lot of this is, if we are talking inside the beltway, that is a different conversation. part of the disservice is the debate is having today is it is steering away from what the real issues are, the most depressing issue, i am more optimistic. it is steering the conversation away from that. it is not helping ordinary americans understand what the threat is over a somewhat longer term. i do not think we have 25 years anymore. maybe it is two or five. we get closer and closer every year that we build up our debt and every year that we postpone tackling entitlements. >> we had a political -- someone w
CSPAN
Dec 12, 2012 1:00am EST
right direction so we do not become greece? it is interesting that we talked about the fiscal coordination have in the countries and to last come along and bail them out when they have not done what they're supposed to do? i do not know that we are that much different. we have a great panel. people thought are far smarter than i am. i will introduce them now. and then i will sit down and i did ask some questions to revival at the panel to keep their answers relatively short so we can run through a lot of questions and get out of here on time. we have ailson frasier, director of the institute for economic studies at the heritage foundation. as director, she oversees the heritage foundation research on a wide range of domestic, economic issues, including federal spending, taxes, the debt and deficit. before joining heritage in 2003, she was deputy director of the oklahoma office of state finance where she worked for governor. next, rudy penner, the institute fellow and the rj and francis miller chair in public policy at the urban institute. prior to that in his long career, he w
CSPAN
Dec 28, 2012 1:00am EST
road to be more like greece if we did not get our arms around it. the unemployment rate remains high. are you optimistic in the short term about our country's future. >> it is hard to be. i tried to be. if we can get this resolved, this fiscal cliff situation, and have a pathway to seeing the deficit be reduced, cannot do it overnight, if we can see there is a path, a trajectory of slowing down the growth of spending to the point you can see the deficit will ultimately go away over a reasonable time, people will start investing again, hiring again, and i spoke to a business group yesterday and asked if they would hire just because they get a tax credit for hiring people. they said no. if you see the deficit will go away and there is hope we are on the right path to fiscal sanity, will you then hired? yes. we will have markets for our products and services and then we will need more people. we are stuck right now because all we have done for a year and a half was kick the can down the road. i voted against the act a year- and-a-half ago because i predicted we would be right where we w
Search Results 0 to 9 of about 10 (some duplicates have been removed)